Information technology (IT) companies are offering non-financial perks to employees to reduce attrition levels, which are likely to go up as the demand for tech professionals bounces back. Employers this year are offering more leaves, career enhancement paths, and flexible work environment as benefits, besides salary hikes to retain employees.
Hiring has picked up across the spectrum in 2021 and voluntary attrition may rise from last year’s low levels when people found it risky to change jobs during the pandemic.
The attrition rate at Infosys Ltd reduced to 10% in the December quarter from 15.8% in the year-ago period. Cognizant’s attrition rate of 19% during the December quarter, though higher than peers, was still lower than the 21% it had recorded in the same period of 2019.
Source: livemint
